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From left: Eric Trump, Donald Trump Jr., Mike Ho, (executive chairman of American Bitcoin) and Matt Prusak (CEO of American Bitcoin), at Bitcoin 2025 in Las Vegas. Photo via AP
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Trump Family Crypto Partner Has Spotty Track Record

By Michael Roddan · Jun 25, 2025 6:00am PDT · 2 comments
Eric Trump is raising money to build what he predicts will be the world’s largest bitcoin-mining company. He’s teamed up with bitcoin miner Hut 8 to build the computing power he needs. “They can get projects done, you know, in half the time of other, you know, builders,” Trump said, announcing the partnership earlier this year. Trump’s newly... Eric Trump is raising money to build what he predicts will be the world’s largest bitcoin-mining...
OpenAI product chief Kevin Weil via Getty. Art by Clark Miller
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OpenAI Quietly Designed a Rival to Google Workspace, Microsoft Office

By Amir Efrati and Natasha Mascarenhas · Jun 24, 2025 8:41am PDT
OpenAI has been gearing up to take on Google and Microsoft with features that let people collaborate on documents and communicate via chat in ChatGPT, according to two people who have seen the designs. Launching these features would pit OpenAI more directly against Microsoft, its biggest shareholder and business partner, as well as open a... OpenAI has been gearing up to take on Google and Microsoft with features that let people...
Art by Mike Sullivan.
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Wall Street’s AI Embrace Leaves Plenty of Work for Junior Bankers

By Valida Pau · Jun 24, 2025 8:00am PDT
For junior investment bankers working 100-hour weeks, artificial intelligence can take care of the grunt work—up to a point. Interviews with half a dozen junior bankers suggest many Wall Street banks have leaned into using AI to help streamline their most menial tasks, including basic research such as asking a chatbot for public... For junior investment bankers working 100-hour weeks, artificial intelligence can take care of...
Photo via AP.
Polymarket Nears $200 Million Fundraising at Valuation Over $1 Billion
By Yueqi Yang · Jun 24, 2025 6:00am PDT
Photo via AP.
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Polymarket Nears $200 Million Fundraising at Valuation Over $1 Billion

By Yueqi Yang · Jun 24, 2025 6:00am PDT
Polymarket, the world’s biggest prediction market, is nearing a deal to raise more than $200 million in a funding round that will value the company at over $1 billion, according to people familiar with the plan. Polymarket, founded in 2020 by CEO Shayne Coplan, rose to prominence last year by becoming the most popular platform for betting on the... Polymarket, the world’s biggest prediction market, is nearing a deal to raise more than $200...
Thinking Machines Lab CEO Mira Murati via Getty
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How Ex-OpenAI CTO Murati’s Startup Plans to Compete With OpenAI and Others

By Stephanie Palazzolo, Erin Woo and Rocket Drew · Jun 23, 2025 3:23pm PDT · 4 comments
The thinking behind Thinking Machines Lab, a high-profile but mysterious artificial intelligence startup led by former OpenAI Chief Technology Officer Mira Murati, is becoming clearer. After raising an astonishing $2 billion at a $10 billion valuation from investors including Andreessen Horowitz less than five months after its founding, Murati... The thinking behind Thinking Machines Lab, a high-profile but mysterious artificial intelligence...
Photo via Getty.
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Google Cuts Smart TV Budget as It Doubles Down on YouTube

By Sahil Patel · Jun 23, 2025 6:00am PDT · 2 comments
Google has cut its smart TV budget and trimmed its team—marking the most concrete signs yet of the company’s waning interest competing with the likes of Samsung and Roku as it centers its TV business around YouTube. The company has reduced the budget for Google TV and Android TV 10%, according to people familiar with the matter. This group... Google has cut its smart TV budget and trimmed its team—marking the most concrete signs yet...
Star Xu, founder and CEO of OKX. Photo via Getty
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Crypto Is the Hottest Investment, in the Stock Market

By Yueqi Yang · Jun 22, 2025 6:00am PDT
Crypto is booming right now, but the rally is playing out in the stock market rather than on crypto exchanges. Shares of stablecoin issuer Circle are up eightfold since its initial public offering just over two weeks ago, and companies that hold bitcoin are getting valuations that are surprising even to industry insiders. Several big crypto... Crypto is booming right now, but the rally is playing out in the stock market rather than on...
Melanie Perkins, CEO and co-founder of Canva.
Canva, Generating Significant Cash, Discusses Share Offer at $37 Billion Valuation
By Sri Muppidi and Natasha Mascarenhas · Jun 20, 2025 3:30pm PDT
Melanie Perkins, CEO and co-founder of Canva.
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Canva, Generating Significant Cash, Discusses Share Offer at $37 Billion Valuation

By Sri Muppidi and Natasha Mascarenhas · Jun 20, 2025 3:30pm PDT
Canva is about to buy itself a little more time before a long-anticipated initial public offering. The Australian maker of design software is in talks to arrange a sale of shares held by current and former employees that would value the company at $37 billion, according to two people with knowledge of the fundraise. That’s just shy of its peak... Canva is about to buy itself a little more time before a long-anticipated initial public...
Nat Friedman. Photo via Microsoft
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Meta in Talks to Hire AI Investors Friedman and Gross, Partially Buy Out Their Venture Fund

By Kalley Huang and Cory Weinberg · Jun 18, 2025 1:57pm PDT · 10 comments
Meta Platforms is in advanced talks to hire the prominent artificial intelligence investors Nat Friedman and Daniel Gross to help lead its AI efforts, according to a person familiar with the discussions. As part of those talks, Meta is in discussions about partially buying out Friedman and Gross’ venture capital fund, NFDG, which holds stakes in... Meta Platforms is in advanced talks to hire the prominent artificial intelligence investors Nat...
Mike Cessario, CEO of Liquid Death. Photo via Getty.
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Liquid Death Seeks Fresh Cash to Ramp Up Production

By Ann Gehan and Cory Weinberg · Jun 18, 2025 9:29am PDT · 1 comment
Liquid Death has been looking to raise up to $20 million in fresh cash, as the longtime initial public offering hopeful looks to expand its production capacity and keep its drink lineup stocked in stores. The canned water and tea startup has been pitching the fundraise in the form of a convertible note, according to materials sent to prospective... Liquid Death has been looking to raise up to $20 million in fresh cash, as the longtime initial...
Art by Mike Sullivan
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OpenAI Starts Selling ChatGPT at a Discount, Hurting Microsoft

By Aaron Holmes and Sri Muppidi · Jun 18, 2025 6:30am PDT · 3 comments
OpenAI has started discounting enterprise subscriptions to its ChatGPT app when customers agree to spend money on additional AI products, according to an OpenAI spokesperson and two executives at large firms that have spoken to the startup in recent weeks. The move has frustrated salespeople at Microsoft, OpenAI’s biggest business partner, which... OpenAI has started discounting enterprise subscriptions to its ChatGPT app when customers agree...
Art by Mike Sullivan
Amazon Plays Nice in AI Shopping—While Also Defending its Turf
By Theo Wayt · Jun 18, 2025 6:00am PDT · 1 comment
Art by Mike Sullivan
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Amazon Plays Nice in AI Shopping—While Also Defending its Turf

By Theo Wayt · Jun 18, 2025 6:00am PDT · 1 comment
At Amazon, the rise of artificial intelligence tools that automate shoppers’ online purchases is raising a question: Should the company fight the startups that make these tools—or join them? The answer it’s leaning toward is maybe a bit of both. At Amazon, the rise of artificial intelligence tools that automate shoppers’ online purchases is...
Sam Altman, left, and Satya Nadella. Photo via Getty
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OpenAI Seeks New Financial Concessions From Microsoft, a Top Shareholder

By Sri Muppidi and Aaron Holmes · Jun 16, 2025 6:49pm PDT · 4 comments
Negotiations between Microsoft and OpenAI over the startup’s plan to restructure its for-profit unit, which requires Microsoft’s approval, have entered their eighth month with no end in sight and new conflicts emerging. OpenAI wants Microsoft, the startup’s biggest outside shareholder, to have a roughly 33% stake in the reshaped unit in exchange... Negotiations between Microsoft and OpenAI over the startup’s plan to restructure its for-profit...
Scale AI CEO Alexandr Wang
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Meta Agreed to Pay up for Scale AI but Then Wanted More for Its Money

By Cory Weinberg · Jun 16, 2025 12:37pm PDT · 4 comments
The negotiations started as just one billionaire tech founder talking to another. Meta Platforms CEO Mark Zuckerberg approached Scale AI CEO Alexandr Wang in mid-April about a potentially industry-shaking deal. Zuckerberg wanted Wang to join Meta and was willing to pay billions of dollars to make that happen. Zuckerberg floated a $5 billion... The negotiations started as just one billionaire tech founder talking to another. Meta Platforms...
Art by Mike Sullivan.
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DoorDash and Uber’s Behind-the-Scenes Delivery Battles

By Ann Gehan · Jun 16, 2025 6:00am PDT
A recent delivery dealmaking frenzy in Europe has kicked off a race between DoorDash, Uber and investment firm Prosus, as the three firms aim to grab more business in the already fiercely competitive market. Some of that has been playing out publicly, with a series of rapid-fire announcements. But behind the scenes, U.S. delivery archrivals... A recent delivery dealmaking frenzy in Europe has kicked off a race between DoorDash, Uber and...
Eric Glyman, chief executive officer of Ramp. Image via Getty.
Ramp in Talks to Raise at $16 Billion Valuation in Round Led by Founders Fund
By Sri Muppidi and Natasha Mascarenhas · Jun 13, 2025 4:09pm PDT · 1 comment
Eric Glyman, chief executive officer of Ramp. Image via Getty.
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Ramp in Talks to Raise at $16 Billion Valuation in Round Led by Founders Fund

By Sri Muppidi and Natasha Mascarenhas · Jun 13, 2025 4:09pm PDT · 1 comment
Ramp, a six-year-old corporate card and expense management startup, is in talks to raise money at a valuation of about $16 billion including the new investment, according to two people with direct knowledge of the fundraising. It is planning to raise about $200 million for the round, according to one of the people. The new funding would be... Ramp, a six-year-old corporate card and expense management startup, is in talks to raise money at...
Kore.ai CEO, Raj Koneru, left, and Intercom CEO, Eoghan McCabe. Screenshots via YouTube
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AI Customer Support Startups Intercom, Kore.ai Discuss Multibillion-Dollar Valuations With Investors

By Stephanie Palazzolo and Sri Muppidi · Jun 13, 2025 3:05pm PDT · 1 comment
Venture capitalists can’t stop betting on startups that are developing artificial intelligence to automate customer support, including those that are on pace to generate more than $100 million in revenue annually. In the latest examples, Intercom, a customer support software startup founded in 2011, is in talks to sell more than $100 million in... Venture capitalists can’t stop betting on startups that are developing artificial intelligence to...
Waymo cars are seen parked at a Waymo facility on June 10 in San Francisco.
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Waymo Fleet Manager Targets Funding That Would Lift Valuation Past $1 Billion

By Alex Perry and Sri Muppidi · Jun 12, 2025 12:38pm PDT · 1 comment
Moove, a five-year-old startup whose employees clean and charge Waymo’s electric robotaxis, is aiming to raise about $300 million in new funding, according to a person who spoke to the startup’s executives. The new round is likely to lift the Uber-backed company’s valuation past $1 billion, according to an investor in Moove. The startup recently... Moove, a five-year-old startup whose employees clean and charge Waymo’s electric robotaxis, is...
Navan CEO Ariel Cohen. Photo via AP.
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Travel Software Startup Navan to File This Month for Fall IPO

By Cory Weinberg · Jun 12, 2025 12:05pm PDT
Navan, a corporate travel software startup, is planning to file confidentially for an initial public offering as early as next week, two people familiar with the matter said, a further sign of a rebound in public listings for venture-backed startups. The company, backed by Zeev Ventures, Lightspeed Venture Partners and Andreessen Horowitz, is... Navan, a corporate travel software startup, is planning to file confidentially for an initial...
Photo via Getty
Financial Markets Giant DTCC Explores a Stablecoin
By Yueqi Yang · Jun 12, 2025 8:00am PDT
Photo via Getty
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Financial Markets Giant DTCC Explores a Stablecoin

By Yueqi Yang · Jun 12, 2025 8:00am PDT
A little-known company at the heart of the U.S. financial system is exploring issuing a stablecoin that could accelerate the use of digital assets across markets, according to people with knowledge of its plan. The Depository Trust and Clearing Corp., the clearinghouse that processes U.S. stock trades, would consider issuing a stablecoin if... A little-known company at the heart of the U.S. financial system is exploring issuing a...